SAN ANTONIO, June 15, 2011 /PRNewswire/ -- Cross Border Resources, Inc., ("Cross Border" or "the Company"), today announced its common stock will be traded, starting today, on the OTC market's highest tier, OTCQX® U.S. Premier, under the ticker symbol XBOR.
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"I'm very pleased that our shareholders now have an opportunity to participate in a broader and more active market." said E. Will Gray II, Chairman and CEO of Cross Border. "OTCQX increases our stock's trading liquidity, broadens our shareholder base and further raises our profile among investors. This recognition of our growth serves as the next step as we anticipate our goal of a NASDAQ market listing."
Investors can find current financial disclosure and Real-Time Level 2 quotes for Cross Border at www.otcqx.com and www.otcmarkets.com. OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks.
C.K. Cooper & Company will serve as Cross Border Resources' Designated Advisor for Disclosure ("DAD") on OTCQX, responsible for providing guidance on OTCQX requirements.
About Cross Border Resources, Inc.
Cross Border Resources is an oil and gas exploration company, headquartered in San Antonio, Texas, focusing on non-operated opportunities with proven operators within the Permian Basin. Cross Border consists of over 800,000 gross mineral and lease acres in New Mexico (approximately 31,000 net Permian Basin acres and 270,000 net acres in southwestern New Mexico) targeting various emerging plays, including the 1st & 2nd Bone Spring, and more conventional plays such as the Abo, Yeso, San Andres as well as Wolfberry acreage located in West Texas. Visit www.xbres.com to learn more about the Company.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Its OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. OTC Markets Group categorizes the wide spectrum of OTC companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB® (the U.S. reporting company marketplace for development stage companies), and OTC Pink™ (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts and are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward-looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom the Company has contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information risks for the Company can be found in the Company's filings with the U.S. Securities and Exchange Commission.
Contacts:
Investor Relations Contact:
Jon Cunningham
RedChip Companies, Inc.
Tel: +1-800-733-2447
+1-800-733-2447, Ext. 107
[email protected]
http://www.redchip.com
Company Contacts:
Everett Willard "Will" Gray II
[email protected]
or
P. Mark Stark
[email protected]
SOURCE Cross Border Resources, Inc.
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